Swiss prosecutors have fined Glencore CHF2 million for corruption related to its activities in the Democratic Republic of Congo from 2007 to 2018. Civil society groups in the DRC demand that compensation from Glencore be allocated to social investments in affected communities, emphasizing that the Congolese people, not Switzerland, are the true victims of the corruption. Swiss legislator Christian Dandrès is advocating for reforms to ensure that fines imposed on multinationals benefit the countries where the offenses occurred.
M&A activity in life sciences has surged, driven by investor activism and the need for innovation, with 2023 deals valued at $163bn, up from $135bn in 2022. Companies are focusing on strategic partnerships, divestments of non-core assets, and leveraging AI/GenAI for enhanced deal-making efficiency. As pharma faces a significant 'patent cliff,' the emphasis on acquiring innovative assets is critical for sustaining growth and competitiveness.
The CNSA Board voted against the Social Security Financing Bill for 2025, citing insufficient measures for the autonomy sector amid economic challenges. With a budget increase of 2.4 billion euros, the focus remains on improving homecare services and addressing staffing issues in EHPADs. The Board calls for a rethinking of funding models and greater investment in autonomy prevention to ensure sustainable support for the elderly and disabled.
MACSF is launching the Andera Dette Privée unit of account on October 24, 2024, in response to the French Green Industry Act, aiming to enhance investment in French SMEs and mid-sized companies. This new fund, focused on mezzanine debt, offers members long-term investment opportunities with attractive potential returns while ensuring a diversified financial range tailored to various investor profiles.
A February hack at UnitedHealth"s tech unit, Change, compromised the personal information of 100 million individuals, marking it as the largest healthcare data breach in the U.S. The hacking group ALPHV, also known as "BlackCat," was responsible for the breach, which disrupted claims processing nationwide. UnitedHealth has begun notifying affected patients and estimates a $705 million impact from the incident, which may have exposed sensitive data including health insurance IDs and social security numbers.
The ongoing budget maneuver has sparked disappointment across various sectors, with minimal increases in pensions and cuts to health care funding prompting strikes from medical unions. Schools face significant staff reductions amid inflation, leading to widespread mobilizations planned in 40 cities. Additionally, proposed revenue cuts for drug companies raise concerns over potential shortages, highlighting the maneuver's contentious impact on essential services.
London Stock Exchange Group reported a 9.5% year-on-year increase in third-quarter revenues, reaching £2.12 billion, surpassing analyst expectations. The rise was driven by a 6% growth in Annual Subscription Value, although there was a slight impact from cancellations linked to Credit Suisse. The company anticipates ASV growth to remain steady for the remainder of the year.
Investment bankers are urging the Securities and Exchange Board of India (Sebi) to reconsider its proposed tightening of merchant banking rules, citing compliance concerns. The new regulations, outlined in a consultation paper released on August 28, aim to prevent conflicts of interest by prohibiting bankers from taking on mandates for companies where their directors or relatives hold shares worth Rs 10 lakh or 0.1% stake, whichever is lower. The broad definition of "relatives" as per the Income Tax Act has raised significant apprehensions among bankers.
Eramet SA is set to acquire Tsingshan Holding Group Co.’s 49.9% stake in the Argentinian lithium project, marking a significant retreat for the Chinese conglomerate from its expansion efforts outside the nickel sector. The transaction will have a net cash impact of $699 million.
The healthcare navigation platform market is projected to grow from $10.73 billion in 2023 to $18.69 billion by 2028, driven by increased digital healthcare investments and the adoption of AI technologies. Major players include Alight Solutions and Sharecare, with trends highlighting advancements in patient engagement and digital front-door technology. The rise in remote healthcare delivery further fuels this growth, reflecting a shift towards more accessible and efficient care solutions.